SYDNEY: The Weir Group, one of the world’s premium providers of highly engineered mining equipment and services, has been awarded a £100 million order to provide industry-leading energy saving solutions to the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group Ltd subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd….
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Oil & Gas, Electricity, Renewables, Canadian Exchange, News Releases
Atlantis JV signs clean electricity supply agreement with Alderney Electricity
LONDON: SIMEC Atlantis Energy Limited via its joint venture Normandie Hydroliennes, has signed a heads of terms with Alderney Electricity Limited (AEL) to supply the island of Alderney in the Channel Islands with power from a proposed tidal array in the Raz Blanchard and help to reduce the island’s current reliance on carbon intensive diesel…
NEPRA grants license to Kuwait based Enertech for its 50MW solar power plant
KARACHI: National Electric Power Regulatory Authority (NEPRA) has granted generation license to Kuwait-based Enertech Quetta Solar Private Limited for its proposed 50 megawatt solar power generation plant in Balochistan with an estimated cost of $50 million. In order to tap the huge indigenous potential of the province for power generation, the Government of Balochistan formulated…
Kibo Energy inks power purchase & coal supply term sheets with Vale Mozambique
DUBLIN: Kibo Energy PLC, the multi-asset Africa focused energy company, has signed a non-binding Power Purchase Term Sheet (PPTS) and a non-binding Coal Supply Term Sheet (CSTS) with Vale Mozambique, S.A. for the Benga Power Plant Project in Mozambique. Louis Coetzee, CEO of Kibo Energy, commented, “Finalisation of both a PPTS and a CSTS in…
Novatek and Saibu Gas sign heads of agreement
VLADIVOSTOK: Today, in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin and the Minister of Economy, Trade and Industry of Japan Hiroshige Seko, Pao Novatek and Saibu Gas Co., Ltd. (Japan), signed the Heads of Agreement. According to the agreement, the parties intend to establish a joint venture focused…
Renewable technology innovations in focus at IRENA’s s Innovation Day
BANGKOK: Artificial intelligence and big data, the Internet of Things and batteries are innovative solutions that will enable massive solar and wind use and amplify the transformation of the power sector based on renewables. By 2050, over 60 per cent of total power generation could come from wind and solar renewables globally, driven by the…
NOVATEK signs MOU with H-Energy
VLADIVOSTOK: PAO NOVATEK and H-Energy Global Ltd, India, signed a Memorandum of Understanding (MOU) envisaging cooperation in LNG supplies to India on a long-term basis, joint investment in future LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio to…
NOVATEK creates shipping joint venture with Sovcomflot
VLADIVOSTOK: Today, during the Eastern Economic Forum in Vladivostok, PAO NOVATEK and PAO Sovcomflot, signed the Heads of Agreement on creating a joint venture, a release issued to London Stock Exchange said. According to the agreement, the parties intend to create a shipping company, with the potential involvement of other joint venture participants. The joint…
Haydale awarded funding to develop airbus approved space technology
LONDON: Haydale Graphene Industries, the global advanced materials group, has been awarded a contract by the European Space Agency (ESA), which is seeking to develop non-metallic gas tanks for spacecraft propulsion systems in a. technology de-risking project. The demand for small satellite launches has created a challenge within the existing space propulsion supply chain for…
Pakistan’s oil sales slide to multi year lows in Aug-19
KARACHI: Pakistan’s overall petroleum products sales plummeted by over 4.0% YoY and as much as 20% MoM to 1.29mn tons in Aug-19, a level not seen at least since Jul-2009. Motor Spirit (MS) sales have grown at a miserly CAGR of 1.2% over the past 10 years; on the other hand, High Speed Diesel (HSD)…
DGO to acquire assets in the State of Ohio from EdgeMarc Energy Holdings
LONDON: Diversified Gas & Oil (DGO), the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells as well as midstream assets, announced that the asset purchase agreement with EdgeMarc Energy Holdings, LLC, and certain of its subsidiaries, has been approved by the Seller and the United States Bankruptcy Court. Accordingly,…
Tullow announces termination of farm-down agreement with Total and CNOOC in Uganda
LONDON: Tullow Oil announced it has been informed that its farm-down to Total and CNOOC will terminate at the end of 29 August 2019, following the expiry of the Sale and Purchase Agreements (SPAs). Tullow has been unable to secure a further extension of the SPAs with its Joint Venture Partners, despite previous extensions to…